Chapter 4: Costs and Cost Minimization Multiple Choice 1. Suppose you are a star basketball player at a major university in your sophomore year. You are sought after by several NBA teams. Which of the following choices best characterizes your opportunity cost if you choose to drop out of college and enter the NBA? a) The value of your college scholarship that you have given up. b) The skills that two more years of playing at your college would have given you along with their additional value
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Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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Accounting and Finance Management Assignment 2 Semester: 3 Prepared by: Osoba Seun Student Number: Sc-Kl-00021763 Email Address: josher4real@yahoo.com Date submitted: 17/01/2014 Question 1 Sales Budget September ($) October ($) Budgeted sales (units) 9‚500 Selling price per unit $12 Total sales 90‚000 114‚000 Schedule of expected cash collections: October ($) Account
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Use of Fluorine 18 in Nuclear Medicine Fluorine 18 is a positron emitter with a half life of 109.77 minutes. It is used in PET scans. Decay mode: 9F18 ( 8O18 + +1e0 (1.656 MeV). Oxygen 18 is stable. The positron travels only a few millimetres in the human body before it meets an electron‚ when both are annihilated producing two gamma ray photons. The energy of each gamma ray photon is 511 MeV‚ the rest mass of the electron‚ so presumably the positron looses some energy prior to annihilation
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In the United States at age 18‚ a person is legally allowed to buy tobacco‚ vote‚ get married‚ enlist in the military‚ and work in a bar‚ among other privileges. However‚ in most states‚ he cannot legally drink champagne at his own wedding or have a beer with his fellow comrades. 18 is the age of adulthood in the United States‚ and adults should have the right to make their own decisions about alcohol consumption. Turning 18 entails receiving the rights and responsibilities of adulthood‚ which involves
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Accounting: Topic 6: Analysis And Interpretation Of Financial Statements (Part 2) Capital Structure Analysis Proportion of debt financing relative to equity financing (=gearing or leverage) * Reflects the entity’s financing decisions * Investments in assets are funded externally by liabilities‚ or internally by owner’s as shown in accounting equation (A=L+OE) Debt to equity ratio: Total liabilities/ Total equity x 100=x% Debt ratio: Total liabilities/ Total asset x 100=x%
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Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product costs 6. The Travel
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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successful cost reduction programmes In the current economic climate‚ most organisations must face up to a prolonged period of extreme competition and funding restrictions. This is particularly the case if the past few years have been focused on growth‚ service improvement or reorganisation (i.e. cost efficiency has not been a recent priority). Such pressures require an approach that reduces costs in a strategic‚ disciplined‚ and sustainable manner - delivered at pace. In our view serious cost reduction
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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